Stock analysis is used by traders to make buy and sell call. It’s an approach to make informed decisions while investing in stocks. Stock analysis can be categorised into – fundamental analysis and technical analysis. Fundamental analysis is evaluation of data from sources, including financial records, economic reports, company assets, and market share. Analysts typically study the company’s financial statements – balance sheet, income statement, cash flow statement, and footnotes. These statements are made available to the investors in the form of quarterly earnings, disclosures to stock exchanges in compliance with the Securities and Exchange Board of India (Sebi) norms. In fundamental analysis, the analysts particularly check for a company's core income, income from other sources, profitability, guidance, assets and liabilities and debt ratio among other parameters. The other method, i.e. the technical analysis focuses purely on statistical data. It works on two assumptions; one, the stock price reflects the fundamentals. Second, the study of past and present movement in prices can help determine the future price trends. Technical analysis primarily deals with price, volume, demand and supply factors. This method is effective only when supply and demand forces influence the market. However, when outside factors are involved in a price movement, technical analysis may not be successful. More
The trend is likely to be upward despite consolidation (if any), as frontline indices now trade above all key moving averages. Below are some short-term trading ideas to consider.
The market is expected to consolidate before entering a fresh leg of upmove. Below are some short-term trading ideas to consider.
The bearish sentiment is expected to prevail until the frontline indices provide a sustainable close above the medium-term moving average. Below are some short-term trading ideas to consider.
The Nifty 50 is likely to consolidate with immediate resistance at 24,200 and support at 24,000. Here are some trading ideas for the near term.
As long as the Nifty 50 holds 22,300-22,200 levels on closing basis, the upward march towards 22,800 can't be ruled out in the coming sessions.
As for the Nifty, going ahead, immediate support is expected around last Thursday’s low of 22,300, which coincides with the 20EMA (20-day exponential moving average), followed by the pivotal support of the bullish gap around 22,200.
If the Nifty 50 breaks the low of this month around 21,300, the crucial support, then further correction towards 21,000 mark can't be ruled out, while 21,850 will be crucial for further upside in the 'sell on rally' market, experts said
NLC India saw a breakout of falling resistance trendline adjoining highs of September 6 and October 12, and formed healthy bullish candlestick pattern on the daily charts, with healthy volumes.
There is a good chance that Nifty may hit a fresh all-time high this week, but 19,000 will be an immediate and critical barrier.
eClerx Services has also formed strong bullish candlestick pattern on the daily charts with above average volumes as the stock jumped more than 6 percent to Rs 1,715, the highest closing level since January 20, 2022. The stock has seen a breakout of last four-day consolidation.
NLC India has broken out from descending triangle on the daily chart. It has surpassed previous top of Rs 90 on the weekly chart. Volumes have been rising along with the price rise.
The selling can be extended in the coming sessions with support at 18,100-18,000 levels, however, on the higher side, the index may face hurdles at 18,500-18,700 levels if it holds these supports
For the Nifty, 18,600 and 18,750 are the next levels to watch out for, above which the path to the next milestone of 19,000 unfolds
Indoco Remedies shares rallied more than 7 percent to Rs 415.35 and formed long bullish candle on the daily charts with strong volumes. Overall it has seen a good run up after breaking out long downward sloping resistance trend line adjoining August 12, 2021 and August 3, 2022.
NLC India has broken out from the bullish Cup and Handle pattern on the daily chart. Price Breakout is accompanied with jump in volumes.
Breaching either side of 18,200-18,450 range can give some kind of direction to the market in the coming days, but having a monthly expiry and FOMC minutes scheduled this week, volatility and consolidation is at the top before any kind of big move on either side of range
Power Grid has made fresh life time highs this week and is sustaining at higher levels which shows strong strength of the stock. On weekly charts the stock has been taking support at 20 week SMA since November 2020 indicating bullish undertone for the medium to long term.
The outcome of US Fed policy will be decisive for global markets, while corporate earnings will lead to stock-specific movements in the Indian market
Malay Thakkar of GEPL Capital advises traders and investors to also continue holding NLC India for an upside towards Rs 97 followed by Rs 102
Traders with existing positions can continue to hold Apollo Tyres with a stop-loss placed below the swing low of Rs 191, and add on fresh positions above Rs 208 for a potential short term target around Rs 220.
On the daily and weekly charts, NLC India has formed strong promising price volume breakout formation that indicates bulls are clearly dominating price action.
PSU stocks have had a most forgettable year in 2020, with the Nifty PSE index declining about 30 percent since January. 2020.
Bank Nifty was the top performing sector which was up 1.32 percent led b y ICICI Bank and Bank of India while on the other hand, from the midcap space, Havells India added 2.28 percent while Power Finance Corporation was up over 3 percent.
Rakesh Bansal of RK Global is of the view that one may buy NHPC with a target of Rs 35.
Ashwani Gujral of ashwanigujral.com recommends buying J Kumar Infraprojects, Titan Company and Dr Reddy's Labs.